BSSN Remembers Technology Industry To Be Alert To Cyber Security Threats

Illustration/Photo: Antara

JAKARTA - Young Expert Sandiman of the National Cyber and Crypto Agency (BSSN) Mohamad Endhy Aziz said the financial technology industry (tech/fintech) also did not escape cyber security threats, such as other digital platforms. "Talk about cyber security threats, we also have to look at the industrial ecosystem, because each industry has different threat characteristics. For their own fintech, there are also several classifications, ranging from peer to peer (P2P) lending, payment, and others that have different characteristics," explained Endhy in a virtual discussion, Friday, July 8. Furthermore, Endhy explained that in general, when viewed from several potential problems, there are at least five main potential problems that allow cybersecurity threats in fintech services. Starting from low literacy of non-registered fintech services; illegal fintech services that have not been registered by the authorities; ethics; misuse of personal data; and potential data leakage of users. "The last two issues are closely related to cyber risk. We have many discussions with related regulators, especially to provide constructive input to regulators, and we are active in activities to increase capacity and capability," he said. Enndhy added that cyber risks have begun to approach operational risks. He explained, according to several studies, cyber risks have entered in the top 10 of the company's operational risks.

"This is our shared homework so that this risk becomes the attention of directors and commissioners so that we have ways and preparations for mitigation, as well as have the steps that have been anticipated," he said. Meanwhile, Endhy explained that along with increasing volume and traffic internet in Indonesia, cyber incidents also increased. "We recorded 1.6 billionth of the number of anomalies or cyber attacks that we monitored in 2021, or an increase of 3 times from 2020. There were also 2,885 cyber incidents last year," he said. "The highest risk in the financial sector. Fintech is one of the main targets of criminals," he added. He hopes that the participation of various parties including the government, technology service providers, and associations can work together to protect consumers while increasing national financial inclusion. "Speaking of innovation must be closely related to digitalization. Innovation and new breakthroughs cannot be denied, however, how do we maintain the balance of technological innovation with consumer protection and security which we must protect," he added.